Mr Maduro, the U.S. vice president said in a speech to the Organisation of American States, "promised people he would restore prosperity but delivered only deep poverty". Pence also urged Maduro to "open Venezuela to global aid, and do it now".
The action is part of the Trump administration's expanding sanctions campaign against Venezuelan President Nicolás Maduro's cash-strapped Socialist government.
On the other hand, he called on Venezuelans to participate in the upcoming presidential elections, for Legislative Councils and Municipal Councils on May 20.
"The time has come to open Venezuela to global aid, and do it now", Pence said. "Hold real elections. Give the people of Venezuela real choices - because the Venezuelan people deserve to live in democracy once again".
"Samuel Moncada accuses Mike Pence of an global crime by violating the charters of the OAS and the United Nations in light of his statements at the protocolary meeting of the OAS Permanent Council", the statement released on Monday said.
The funding announcement comes roughly a month after Vice President Pence announced that the USA would provide almost $16 million in humanitarian aid for Venezuelans who have fled a deepening economic and political crisis in the country.
The Trump administration has also been weighing new oil-related sanctions on a Venezuelan oil services company and on insurance coverage for tankers carrying Venezuelan oil.
OFAC further designated 20 companies, 16 based in Venezuela and four in Panama, that were owned or controlled by the three men and allegedly used to launder illicit proceeds from narcotics trafficking and extortion.
"Systemic corruption and a collapse in the rule of law are defining features of Venezuela's government", U.S. Treasury Secretary Steven Mnuchin said in a statement Monday. Maduro asked a crowd in a rally on Tuesday in southern Amazonas state, condemning the USA president and vice president for sanctions on his government.
Output could fall by another 200,000 b/d by December, an oil ministry source told S&P Global Platts last week on condition of anonymity.
He said the OAS must respond to the crisis by removing Venezuela from its membership.
This story has not been edited by Firstpost staff and is generated by auto-feed.